Advantages Of Good Governance

Phenomenal growth of interest in corporate governance has emerged in recent years. The body of literature on the subject has grown markedly in response to successive waves of large corporate failures. Furthermore, there have been numerous attempts to define what constitutes ‘good corporate governance’ and to provide guidelines in order to enhance the quality of corporate governance.

Governance refers to the system by which organisations are directed and managed. Corporate governance represents the relationship between the board, management and its owners (Foreman 2006). It is not only rules and regulations but also ethical culture within an organisation. Without an ethical and accountable environment, corporate governance is at best, unless, and at worst, a means to future corporate malpractice

2.2 Good governance: Good governance so called when delivering beneficial needs to the individuals and taking actions according to the situations. It usually promotes the community which helps in development. The fundamental principle of good governance tells about the development of the community, followed by the

Good governance is characterized by transparency. In an organization, transparency means that all decisions and actions taken by the board and organization

“Corruption is the enemy of development, and of good governance. It must be got rid of,” says Pratibha Patil, India’s 12th president. Corruption within society hinders its ability to properly function and affects mankind. While it is in effect, corruption will continue to tarnish society’s mores. In Hamlet, Shakespeare uses the motifs of disease and decay to exhibit that moral corruption destroys society.

As governed people the thought of can this problem solved comes into question. Political corruption can feel intimidating and far-off. People need to call on their legislators and public administrators to be responsible for their activities. Can people really have faith in them if they do not let their constituents know what they are undertaking? People must mandate that they put in place protocols which will force them to act openly. Then corruption has nowhere to hide. And the faith in the political progression will be restored. When influential leaders act visibly, showing their constituents undoubtedly what they do, then people can make knowledgeable selections when they vote. And politicians can be held accountable once selected. From popular assemblies to big organizations, civil culture has a vigorous part to play. Then the governed people can display polling operations and parties’ actions. If government possessions are ill-treated, somebody must report

Countries around the world have embarked on public organisational reforms to improve their performance and improve service delivery. The key reform in state corporations has been the introduction of performance management systems but only few countries have successfully implemented the same and got positive results Performance management initiatives were put in place to tackle issues and concerns that organisations have on performance (Sharif, 2002).

transparency and business performance. Is there a relationship between good governance and on-going business practices? What criteria are or should be considered? Ranjitha Subramanya MBA 600 Capital University

Competitive business environment and appropriate good Corporate Governance have a nexus, the former fuelling, influencing and impacting the latter and the latter seeking to meet the challenges of the former. For Corporate Governance, inhering Competition principles in policy making would appear sine qua non. Corporate Governance consequently needs to fashion itself to meet Competition and prevent enterprises indulge in (inadvertently or otherwise) anti-competitive practices. Corporate Governance needs to incorporate the interests of consumers and economic development. Competition maximizes incentives to innovate, engage in new promising activities, offer better services and wider choices at lower prices. The continuous quest for efficiency and improvement is not merely a result of the competitive process, it is the competitive process, where companies- small, medium-sized or large- concentrate on becoming as efficient as possible, rather than on surviving by other (illegal) means, their competitiveness will increase whether they operate in their domestic market or in the worldwide stage. Competition law understood the need of good corporate governance for fair competition. The need for implementation of good Corporate Governance strategy is not only social, but there are good economic reasons also. The Companies possessing Governance practices are more likely to gain a competitive advantage over their counterparts. The benefits that

Corruption is a treacherous plague that has a wide range of volatile effects on societies; it undermines democracy and the rule of law, which leads to violations of human rights, distortion of markets, and it erodes the quality of life allowing for organized crime, terrorism, and other threats to human security. Corruption is universal, as it is found in all countries, yet it does the most damage to the developing world. Corruption hurts the poor disproportionately by diverting funds intended for development, undermining a government’s ability to provide basic services, feeding inequality and injustice and discouraging foreign aid and investment. Corruption is rampant in India, as it has taken a prevalent role of Indian politics and bureaucracy. Corruption in India has been one of the most interesting and discussed problems in modern political history. Anti-corruption watchdog Transparency International ranks the national perception of corruption in India to be 85th in the world out of 175 positions, indicating that India’s governance is corrupt and isn’t accountable to its citizens.

need of entitlement; their sense of privilege becomes private. Even honest individuals unquestionably accept their position and consequent of power without realizing its impact on their role. Their intelligence, diligence, strategic planning and hard work to reach the higher ends of their organization may propel them to believe that their position and privilege are well deserved. Such feelings may result in double standards and consequent corruption. Corruption should not allow to run continuously. Though the remedy of corruption is not an easy task, it is a crying need to stop for the greater interest of society. To make countries free from corruption, citizens of all classes should be responsible, accountable, dutiful and considerate. Nepotism, favoritism, etc. should be dealt with up most seriousness. To lead in peace in the society it is essential to stop it. This curse should not be allowed to continue. Anti-corruption commission must be given more freedom to take place. Public awareness must be raised to stop corruption. The mass media can play a significant role in this regard to stop corruption from the society. There are so many reasons for corruption and so many solutions. But, none of the solutions are welcomed by others as to do so. Every type of corruption has reached new heights in the world today. As a result, the places, and their people, suffer greatly while some thrive from evil. Before solving a problem, the first step to solving it is admitting there is

The main purpose of this study was to formulate a model of corporate governance suitable for the Pakistani

If two or more persons meet together and start talking about the present society of India, they soon come to the conclusion that every system, every institution of India is infested with corruption. Corruption has become so common in public life.

Corporate Governance refers to the way a corporation is governed. It is the technique by which companies are directed and managed. It means carrying the business as per the stakeholders’ desires. It is actually conducted by the board of Directors and the concerned committees for the company’s stakeholder’s benefit. It is all about balancing individual and societal goals, as well as, economic and social goals. Corporate Governance is the interaction between various participants (shareholders, board of directors, and company’s management) in shaping corporation’s performance and the way it is proceeding towards. The relationship between the owners and the managers in an organization must be healthy and there should be no conflict between the

All of us are aware of the fact that the country, whom we love so much has been in the clutches and the diabolical jaws of the virus, called corruption. Corruption in India is the main cause of its every failure. Every developmental project and the defense requirements are being overshadowed by the corrupt officials. Even the very magistrates who are believed to be the axis of the law are